e-Gold by National Spot Exchange (NSEL) – Benefits, Buying Process, Charges & Tax aspects
All Trading on NSEL is currently suspended. NSEL went bust in July 2013 after two dozen counterparties declared their inability to settle payments amounting to Rs 5,600 crore to more than 13,000 investors.
UPDATE - 27 Mar 2014
NSEL is grappling with a payment crisis for settling dues worth Rs. 5,600 crore after it suspend trading activities in July 2013 following a government directive. The Forward Markets Commission (FMC) on Mar 27 2014 allowed scam-hit National Spot Exchange Ltd (NSEL) to convert e-series gold contracts into physical form - a move that would benefit 33,000 investors.
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Previously we discussed the benefits of trading / investing in electronic form of Gold (Gold ETF, Gold Funds etc) over buying physical gold, coins, jewellery etc.
In this post...